Mathematica notebooks are, of course, plaintext files -- it seems reasonable to expect that they should play nice with a version-control system (git in my case, although I doubt the specific system matters). But the fact is that any .nb file is full of cache information, timestamps, and other assorted metadata. Scads of it.
Which means that limited version control is possible -- commits and rollbacks work fine. Merging, though, is a disaster. Mathematica won't open a file with merge markers in it, and a text editor is no way to go through a .nb file.
Has anyone had any luck putting a notebook under version control? How?